EURUSD had a bullish day yesterday. The daily candle came out as a bullish engulfing candle from a strong level of support. The H4 chart shows that the price headed towards the North after making a double bottom. The neckline got breached by a very commanding bullish candle. The price has started having correction as well. This means an H4 bullish engulfing candle at the breakout level may push the price to go towards the North again. Let us have a look at the H4 EURUSD chart.
This is another trade idea generated by the Elite Swing Trader.
The level of 1.12390 is the neckline of the double bottom. After being broken, the price came down up to the level and had a strong bounce as well. If the price comes back to the level again and produces an H4 bearish engulfing candle, then buying the pair would get us some green pips. Let us have a look at the summary of the trade
- Sell Stop Order: 1.12306
- Stop Loss: 1.12535
- Take Profit: 1.12023
We are not going to wait for any breakout here. As long as we get an H4 bullish engulfing candle at the breakout level, we may take the entry right after the candle closes. This is an ‘ABC Pattern’ trade setup. Typically, it offers 1:2 risk and reward ratio. This is a trade setup which usually gets high liquidity. Thus, it does not take that long to hit the target.
Click Here to learn more about Elite Swing Trader
The Elite Swing Trader Trading Dashboard
With the Indicator, you can now have multiple charts open and wait for the Elite Swing Trader will highlight potential trades to your attention. Of course, without saying, you do not trade every signals. Instead, this is a massive time saver. You decide on the trades to take.
This is a time tested Ever Green Swing trading system. Learn more here…
Claim Your $60 No Deposit Bonus Here
All you need is to have your live account verified!
Of course, you need to open a live account...
2 Brokers that we like A LOT!
USD30 from each Forex Broker Below.
Both Forex Brokers have excellent rating!
We use both of these brokers and proudly promote them!
NOTE: Not all countries qualify for these bonuses. Terms and Condition Applies.Other Analysis Today
